The clout of the world's number 2 wealth fund

Hosted by: AIIA NSW & the Royal Norwegian Embassy

The event will start on: Thursday, 11 November 2010 5:00 PM

And will end on: Thursday, 11 November 2010 6:30 PM

At The Glover Cottages, Sydney

124 Kent Street , Sydney NSW

02 8011 4728     nswexec@aiia.asn.au

Posted by: nsw   

During this year’s Federal election campaign, Norway was held up as a shining example of a country that was conserving its wealth from resources, particularly oil, for the benefit of future generations.  Its sovereign wealth fund cannot be plundered by politicians for present causes or for pork barrel projects.

It was compared favourably to our own Future Fund, with its over-investment in Telstra - stock it has recently been selling at falling prices.

Norway’s sovereign wealth fund is now the second largest in the world after Abu Dhabi’s, with reserves recently valued at $US 518 billion.

Apart from securing the future of a future generation of Norwegians, it has become one of the greatest sources of Norway’s global influence, with the Oslo government using it to press foreign companies on such issues as corporate governance, workers’ rights, and the environment.

According to the Financial Times, Wal-Mart, the US retailer, and Rio Tinto, the Anglo-Australian mining group, are among dozens of companies excluded from the fund for alleged ethical violations.

The Australian Institute for International Affairs, in association with the Royal Norwegian Embassy, is offering those who can be in Sydney on November 11 a rare opportunity to meet the fund’s strategist. He is Mr Dag Dyrdal, chief strategic relations officer of NBIM, the investment arm of Norges Bank, that runs the fund.

Bookings for this special event are likely to be heavy, so please reserve your place now.

Meet Dag Dyrdal, Chief Strategic Relations Officer, NBIM

Dag Dyrdal was named Chief Strategic Relations Officer in October 2009 after joining NBIM earlier that year as Global Head of External Relations. Dyrdal's previous experience includes management positions in international business, most recently as CEO of two London-based start-ups within trading methodologies and reputation analysis. Dyrdal has management experience from research and consulting. He started his career as a financial journalist with Reuters.